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tv   Squawk Alley  CNBC  November 5, 2015 11:00am-12:01pm EST

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. good morning. it is 8:00 a.m. at facebook headquarters in menlo park, california. it's 11:00 a.m. on wall street, and squawk alley is live. ♪
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>> dow taking a spin here. down 77 points. john and kayla with us here. we talk about being friends. facebook, shares rallying to an all-time high after earnings, revenue, and monthly active users top estimates. facebook has now over a billion daily active users, and according to mark zuckerberg, video is increasingly a bright spot. we now p stpt interactive 360 videos and news feeds. >> another crazy stat. facebook now has a market cap above $300 billion. joining a small club with tech companies like amazon, apple, goo google, microsoft, and you can throw in exxonmobil in that club as well. all the things we used to
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complain about on their calls are gone. worries about mobile, worries about daily interaction engagement, worries about spending. not today. >> i'm sure we'll figure out something else to worry about. remember, a couple of years ago everybody saying, oh, everybody is leaving facebook going to instagram. it's going to be a ghost town. anecdotally people bring that up, but the numbers don't lie here. they just crossed the billion daily active user threshold. i believe it was august 28th or 29th. for them to average $1. 007 billion for the quarter is pretty impressive. also, price per ad up 61%. impressions down ten. they're actually cutting back on desk top ads. p.c. ads were down 8% year-over-year. that's an interesting contrast with google, which is seeing the opposite happen. that's going to be really interesting to dig into. >> you mentioned a lot of very specific numbers that you have to believe as a ceo it is such a joy to be on a conference call and not get asked about when your margin is going to increase
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two basis points, when your revenue is going to go up, to actually get to talk about when you are going to enter big strategic markets, which virtual reality will be the thing to talk about, long-term strategic planning. that's what facebook good to do today. >> here is bob laker, the ceo of go daddy, that joins us live from scottsdale, arizona. what a story on facebook. we'll start with. >> you're not going to be under the same scrutiny as a company that doesn't have that fantastic group. facebook has become part of the social fabric in a way that no other company really has, and that i think gives you a lot of leeway in the investments that you are making. i know investments were up considerably. the expenses are paying off, and it's pretty clear that when
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they've even done acquisitions that folks have kind of questioned in terms of cost, those are paying off too. you almost have a billion users. even what'sapp now, that's a big number on a monthly basis. you know, i think generally the facebook platform is unlike any other. we have one in seven people in the world using that product to connect with people they really care about. it gives you an opportunity to grow advertising in a way where people don't even feel like they're being advertised to. it seems google is charging less for more clicks. is that just a function of the maturity of the companies and the fact that google got big on desk top first, whereas facebook is really growing on mobile
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primarily? the value of the impression of facebook is starting to change. i kind of held the opinion for a long time that your social graph is going to be more important to inform an advertiser what's important to you more than just a standard search result. certainly a search roult a desk top is going to approximate what you are thinking about at that particular moment, but your social graph and the way that those advertisements show up knowing what i'm looking at, knowing the conversations i'm having, i think, actually does a better job communicating and connecting an advertiser to a potential customer when they are most receptive and part of the shift, a lot of mobile, a lot of those conversations are happening on mobile. i know me personally spend more time on facebook on my mobile device probably 10-1 over my pc now, and i know that my kids are doing the same thing.
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is it one or the other or both? >> i think that's a first world problem. if you have -- you have two different -- you have two different products that are in your product line, and you are deciding, and allowing an advertiser to decide what's most appropriate to reach the customer on whether it's instagram, whether it's what'sapp, which is, i would say, not really monotized strategically today or facebook. is it the finance channel and the home page. i hey that same opportunity exists for facebook. you know, a customer is going to
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be engaged differently, and they're going to be more reseptive to an ad on a different platform and a different time. >> in the meantime, blake, let's go to go daddy, something you know even better. shares rallying after earnings and revenue top estimates. company being helped by increasing revenue in international customer base up almost nine. this shift, meantime, away from the traditional web address business. what's going on? >> well, look, carl, our strategy -- it's -- the quarter was good, right? we beat top line. we beat bottom line. we raised our guidance going forward. you know, what's going on is the strategy is working. we have a strategy that says, look, very small businesses have been underserved globally, and what we're doing today is serving these small businesses with web presence and, you know, 59% of small businesses today still don't have a web presence. they don't have a website. it's not just about names. it's about how do i help a small business, very small business,
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bring in customers, retain customers, run their back office and make them feel bigger than they are. that strategy is pretty powerful, and it's having a lot of affect, and are you seeing it in our numbers. >> blake, facebook, though, said that they have 45 million small and medium businesses using their platform. they're trying to grow into more. i'm just wondering how you see the competitive landscape and how go daddy plans to differentiate itself going forward. >> well, interestingly enough, we actually have a product that allows one of our customers to get presence on facebook while they're getting presence on their own unique website, and it's an important place to engage with customers. again, that's part of the power of the facebook platform. you know, look, we only have -- we have almost 14 million customers. certainly a lot less. they're all paying customers, so all of our customers actually are subscribers of our service, and while that's a small number, we think that, you know, it's very important for small businesses to have a unique on-line presence that is uniquely theirs that allows them
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to engage on their terms, and, frankly, even showing up in an inbox with their own business name as a domain instead of a g mail address or outlook or hot mail address is very important to them. very important. providing those services and then connecting them with social networks so they can gauge with their customers on platforms like facebook and like twitter are very important to them. we're trying to make that very, very ease where i where because most of these folks don't have time to spend managing a facebook account, managing a twitter account, managing their website, managing their yelp presence or urban spoon or open table. infantry those products. it's very important for us to provide that sort of easily managed service for them. >> public at 20. just less than a buck away from an all-time closing high. blake, we're going to watch you very closely as well. thanks again for joining us. good to see you again. >> thanks, carl. good to see you, guys. take care. on the flip side of earnings reports, qualcomm was another big mover last night and this
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morning. shares falling even though profit and revenue beat expectations. >> smartphones being sold isn't coming in. they say it's going to take longer to sort of shake down those phone makers that owe them money. interesting in this water, too, was that mid and low tier phones came in very strong. i asked are you seeing this across other companies and across geographies. they said yes. what is it that mean for high end phones. it could mean more and more
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apple is pulling away. it's gaining share in that category. samsung not doing as well against the 6s and 6s plus. we'll see what that means for qualcomm's revenues in the second half of this fiscal year when their snap dragon shows up. they say they've gotten good early reception to that and strong commitments to build it in. we'll see. >> although a big company, a trade like we're seeing today, means a lot of investors are rushing to the exits. >> a lot. i mean, it's down more than 13% right now. the question has got to be more investors is this overdone? here is a company that has a history of releasing products that matter? have they seen the worst with samsung locking them out of the last smartphone? did things turn up from here? they could also turn down. there are rumors about apple possibly dropping and modems for intel. none of that substantiated yet.
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stoxz started in positive territory. right now the dow is down about 82 points. s&p is down just about 9. the nasdaq is down about 34 points. good for negative territory. about three-quarters of 1%. a lot of focus being paid to comments from fed vice chair stan fisher saying inflation, not quite as low as we think. of course, that comes on the back of comments from fed chair janet yellen. yesterday that decembers meeting being a lot of possibilities. ripples in the bond market, and you can see what that is doing to stock today. shares of ralph lauren soaring after earnings beat estimates. best day ever for ralph lauren. despite today's gain, shares are still down about 30% so far this year. $130.43. it's currently up about 15%, though, today. carl. >> when we come back, according to a new study venture capitalists are officially nervous about valuations and a tech bubble. plus, a blockbuster cnbc report leading to the resignation of
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the ceo of a matter pharmaceutical company. we'll bring you that story. and a top nfl receiver is taking on fan duel and hoping to start a class action lawsuit with larry fitzgerald. we'll ask him when "squawk alley" continues in a moment.
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the mel million dollar market cap club, and here to weigh on facebook's growth theresa gau at aspect ventures and part of facebook's series a funding. i don't know how much of thaw might have held on to. i understand have you to reinvest. >> i have been fortunate that i have been able to hold to quite a bit of it, so i'm pretty happy about the stock price right now, but -- thanks for having me back -- on the dau that's the thing that strikes me the most. i remember walking down the street to give the series a term sheet in 2005, and one of the things that really caught our attention was the fact that over two of this thirds of the users were daily active users. she remarked the same thing. what was remarkable to me about the numbers today, still only 65 periods dau.
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it's amazing at a billion. >> that means that two out of every three people logs in pretty much every day on average. >> i thits really about the type of use are, the quality of your use wrer, it's not the absolute numbers because, remember, we saw something when this was quite small. it was smaller than the other social network. it is about the quality. of all the twitter numbers that were concerning, i always look at what's the active engagement? what are the daily active users? if it were me, that would be what i would focus on. i think what it also speaks to, though, is the power of the mill enwrals and the mill enwral generation and how they just -- they consume media completely differently? they spend more time on the internet than they do watching television, and they look for jobs differently. i'm an investor in a company called the daily news, and they
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have had over 50 million, which there are 75 million mill enwrals in the united states, use their career advice. they just don't go to books and newspapers like they used to. >> when you talk about the quality, the experience, how much rope does facebook have on ad load versus a twitter or anyone else? that speaks to the balance of not trying to over-monotize their audience, and i think that's important. >> we remember the headlines a few years ago. facebook wants to be a bluechip. it's done everything it said it would do for years, and that's why investors have rewarded it. it should also be a great example for companies that are still private. i'm wondering what companies, though, you think have the real potential to be the quality of company that facebook is.
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i think there are some companies that are in the so-called billion dollar unicorn club. others have said -- last time when i was on the show i said i wouldn't be surprise iffed one-third or a half of them are gone. some are meaningful and have reached scale and will continue to grow. i think that most of those are companies that have figured out how to -- and i would look at the frequency of usage. it has a lot of other challenges, but in that sense i do think, you know, uber in terms of the number of users and the frequency that people use it, those numbers have continued to climb. those are all good leaning indicators. >> yeah. i wonder quickly if we are in the age of cash now how quickly
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some start-ups are burning it and in the company like facebook's case, how quickly they're generating it. they generated, i this i, about 8% of their total cash in this quarter. >> they increase their rnd, and they continue to buy long-term bets like occulus and others. >> what do you think? >> i think cash is king for sure for private companies. when i think about which unicorns are going to live or die, it's the ones that have enough cash to get to be cash sustaining. it's that simple. i think we already see the public markets, and we're seeing it coming back. the late stage private funding has already gotten very tight, as you imagine, with all the guys. 80% of their stocks are -- the public stocks are all crazy since august. they are really not -- they're pretty down on late stage stuff now. >> thanks for sharing your
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insight. you clearly have plenty in that facebook series. you held on to it. theresa, thanks so much. >> thanks for having me. >> up next, a blockbuster cnbc report shining the spotlight on one pharma company putting profits above patients and their health. we'll bring you the full story in just a moment.
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>> an investigation raising questions about one pharmaceutical company and leading to the resignation of its ceo. the company is instace, and it was first record by nightly business report and it's produced and owned by cnbc. >> how did you first come across this company, and what did you find? >> i found that insta sells an opiate. i just topt put that in perspective for you. that opiate is about 100 times more potent than morphine according to physicians, and it's only meant to be ud for late stage cancer pain according
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to the fda. the company reported earnings just this morning that included record sales. here's what we found in our investigation. the state is being investigated in at least six states across the country for some of its business and marketing practices. insys recently settled with the state of oregon for over $1 million. they accused them of engaging of inappropriate behavior including things like suggesting taking doctors out on tequila dates. we also found that some of the doctors associated with the company across the country have been arrested or are under investigation. one nurse practitioner in connecticut recently pleaded guilty to accepting over $80,000 in what she said were kickback schemes. i also want to mention but they
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admitted to no wrong doing. it's going to be interesting to see what happens in those other states. >> what a story. thank you very much. appreciate that. >> on the down side, the big swiss employment giant, which has france and this country is its biggest market, warning of a slowdown in employment growth in the third quarter here. therefore, lowering its estimates overall. you see the disparity between what we're dealing with in europe at the moment. in the meantime, obviously interest rates are front and center for many people.
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not least after yellen upped the ante suggesting that a december rate hike was active or live, as she said yesterday. the rest of europe seems to be moving in the other direction for once. the blank of england, which had been talking about a rate rise at christmas or in the new year, saying it would come into focus, is now really so dovish that many people have pushed back their expectation of a rate rise. really most of next year. if you look at where the market is position, and you see the way that sterling has fallen as a result. there are, how far, many in europe who would like to see the united states raise rates. one of the prominent hedge fund managers, an italian, working out of london, was passing through the stock exchange today here. he was suggesting that it would be good for yellen to follow through with the rate rise now because of the signalling that it would give american ceos. take a listen. >> why in america 80% of the corporate cash has been used -- and no one is investing? they don't have faith in the future. they keep saying -- the fed
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lowers rates for long time. that means the situation ain't good. >> he has been meeting with the ecb controversially before they have big meetings or big decision to make. he has been listed openly as one of those that they have met. though, he refused to comment on that. guys, back to you. >> thank you very much. when we come back, still watching facebook. shares rallying to the new record. the company still has massive growth foe teshl and he will try to make his case no swromt. i'm here at the td ameritrade trader offices. ahh... steve, other than making me move stuff, what are you working on? let me show you. okay. our thinkorswim trading platform aggregates all the options data you need in one place that lets you visualize that information for any options series. okay, cool. hang on a second. you can even see the anticipated range of a stock expecting earnings. impressive... what's up, tim? for all the confidence you need. td ameritrade.
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good morning. i'm sue herrera. russian president vladimir putin urging david cameron to wait for the results of the official probe into russian plane crash in egypt. it follows the british leader yesterday saying that it was more likely than not that the crash was caused by a bomb. two women and a man were shot to death inside a house in central maine when the gunman's body was found outside. all four shared the house, which was divided into two apartments. investigators are tying to determine the gunman's motive. prosecutors say they will not bring rape charges against chicago blackhawks hockey player patrick kane citing a lack of credible evidence and the accuser's decision to no longer cooperate with that investigation. kane has insisted that he did
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nothing wrong. the event is a nine-hole course that is open until sunday night. it's $50 a piece or $200 for a foursome. another 1,000 golfers are on the waiting list. 1,600 will play. that's your update this hour. back to "squawk alley" and kayla. >> thank you, sue. that's quite a long waiting list. facebook shares are surging. up nearly 5% this morning. revenues especially in at thes and mobile revenues coming in strong as well. for more let's bring in mark, investment director of global asset management. $120 billion in aum. facebook
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is there a special sauce to the product that's been born in the last couple of quarters, or is it the network effect? what do you attribute this to? >> they've relied heavily on the technology acquired to have the success for targeted advertising, and that puts them ahead of the competitors. i think it's no surprise that we see ad pricing rising for facebook, but falling for twitter, for example. >> we have seen incredible growth kras across the platform. we mention the portfolio. how strong the other brands are. the company seems to be taking
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its time monotizing these assets. how long do you think that will provide a tail wind for facebook going forward? >> i think it will provide a tail wind for actually a number of years. they are so good about focussing on the network and on engagement first, and then monotization comes as a result of that rather than pushing for monotization first. that is one of the keys to their success. >> how long before this starts to tip closer to a zero sum game between facebook and google. facebook able to charge more for ads. google is charging less, but more clicks. granted, google is a bit more mature in the internet advertising space.
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they're just over 30% of advertising is done. they're still an enormous runway. television and news print impact takes a disproportionate share relative to the amount of the consumption done on those media. i hi that the opportunity for the whole pie to grow is still very substantial. then i think for facebook to take an increasing share is also great as well. >> people are chuckling this morning about the guidance they're giving for vr and occulus comparing it to what palm did in its early years. are they dramatically underpromising here, or do you think this really will take a long time? >> i think comparing vr to early stage blackberry is certainly setting a pretty low bar. i think on the conference call last night mark zuckerburg said
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that he saw v.r. potentially as the next complete platform. if that is even remotely true, we're looking at another huge, huge market opportunity over time. >> do you see facebook adding to its portfolio any time soon? we talk often about how they've forecast expenses to go up. expenses have continued to go up. is it something you see facebook continuing to use its cash for beyond just reinvesting in the underlying technology? >> i think it will be reinvesting in its underlying technology. for me it made the most critical acquisition probably turned out to be what'sapp because i think to have the communication platform of choice, which what'sapp looks as though it is now heading towards being, is a critical piece of the jig saw as
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well. it will be more evolutionary, but still, a lot of money will need to be spent on developing these technologies and keeping themselves well ahead of the game, and it's not as if they can't afford it. you know, they're making between 30% employ 50% margins, depending whether you look at gap or non-gap. they have plenty of cash to be able to get the right balance between growth and profitability. >> mark, it's worth noting before we go that you have been long facebook since the ipo. you correctly believed that they would overcome the mobile obstacle. you believed that instagram would pay off. i'm wondering when you see a company that's now the seventh largest company in the world, do you add to your portfolio in facebook today? >>. >> my position on facebook is there is still enormous potential, but the easy money has already been made. it's all about 30 times cash
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adjusted suggested earnings next year for a greater than 30% growth rate. that's not expensive for a very high quality growth company. i think there are other contenders for that position as well. amazon and google being amongst them. so i certainly think it's quite interesting. last year everybody is wondering about apple becoming the first trillion dollar company. my guess is that it will be a company like google or facebook or maybe even microsoft that will be the first trillion dollar company. >> well, we're not going to forget that bet. we'll have you back, mark, to see how that plays out. we appreciate your time this morning. >> up next, our shares of airbnb rival home away soaring after being bought by expedia for nearly $4 billion. we'll tell you what the ceo of home away had to say about that deal. first, rick santelli. what are you watching today? >> well, of course, i'm watching the entire yield curve and trying to contemplate that if
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janet yellen indeed raises rates 25 basis points, how is the yield curve going to respond? where are the maturities going to end up in terms of yield? we're going to discuss that. of course, it's after the break. come back.
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>> coming up today facebook soar on the earnings blow-out, we talked to the most bullish analyst on the street. gene munster on where the stock goes from here. plus, whole foods shares in a whole lot of trouble today.
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we'll talk live before nhl player about his new book. the brawler turned businessman on life lessons and so much more. john, we'll see you in about 20 minutes or so. >> expedia has acquired homeaway for nearly $4 billion. expedia ceo and homeaway ceo brian sharp joined us earlier. here's what they this to say about boosting book-ins. >> as we move to a bookings based business, conversion expertise is everything. even very small changes in our ability to convert traffic into bookings will create huge swings in our financial results. these guys have been in a bookings business. that is their fwis. they're the biggest bookings business in the world, and it's a pretty new muscle for us.
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>> they try to make the point that home away is more about renting your second home or your vacation home. not so much your primary. their argument is we're not going to be as exposed to some of that regulatory pressure. we'll see. >> the devil will be in some of the details when they file the merger agreement to see who they talk to if they talk to anybody else, and whether this was, in fact, the best deal to come out. >> if the tightening actually occurs. given the age of all the computer trades that we now see and all the high frequency
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trades, much of this decision making process is left to what we used to refer to as a form of artificial intelligence. exactly how do programmers make sure that the investor dollars that are sponsoring their activity ends up on the right side of the hashgt. let's look at some things from a very simple standpoint. it we look at where all the maturities along the yield curve settle.
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>> for twos, well, 91 basis points. very much taking up a lot of that slack in the rope considering how long we camped out at 60 basis points. when it comes to fives, there's actually quite a disparity. there's a very small disparity in tens. there's a very big disparity in 30s. as i said, 30s are pretty much already covering at 3%. if one was a trader, how would you approach this? i would approach it that the best goal to be potentially made is going to be in the five-year sector because the five-year sector not only has the 25 basis point parallel shift from settlement at 190, but it is well above what the high yield of the year is. of course, next would be tens. the ones i would avoid are twos and 30s. the 30 year and the ten year were associated with dynamics and weren't necessarily all fed driven. you could argue both were
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affected by european rates first down and then up. >> everybody needs a starting point, and this one is simple, and it may work quite well. back to you. >> a master class right there in fixed income. thank you very much. rick santelli. baseball season may be over, but taco bell is still paying for it. jane wells is live in l.a. to explain that. good morning, jane. >> carl, yeah. well, this is why they're trying to give away free breakfast to have a more crowded drive-thru, and they're not middling traffic here. they told me inside they've given away, oh, probably by this time 20 crunch wraps in the first 90 minutes, and that's a little higher than normal. there may be no free lunch, but today there is a free breakfast
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thanks to lorenzo who stole the base in the world series. taco bell has had to make good on its steal a base, steal breakfast promotion. this morning it's giving away its most popular breakfast item, the a.m. crunch wrap. eggs, cheese, bacon, sausage, hash browns. "mad mone it's an opportunity to boost stagnant growth. it gave away free tacos and still a based promotion, and the company says back then it gave away 1.4 million tacos which probably cost it maybe a half million dollars, but then, of course, there were a million spent on world series promotions. the crunch wrap has more ingredients. costs more to make. twice as much of the retail level to buy it. it's only being given away between 7:00 and 11:00, and the free tacos at seven were given away all day. mcdonald's is selling breakfast all day. yum launched breakfast at taco bell last year. that number isn't budging. they're hoping this will do it. competition isn't just
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mcdonald's, but dell taco starts serving earlier, and inside a short time ago when i was getting my free breakfast, there was a family in there. the lee family. four people. they got four free crunch wraps. i asked them how do you like it? have you ever had one? no, we haven't ever had one. do you like it? yes. would you buy one? she said, yes, we'll come back. that's the hope. we'll see if it pays off. >> i know a lot of west coast viewers, a lot of college student viewers probably waking up and very enticed by that, jane wells out west by taco bell. thanks. >> up next, more backlash against daily fantasy. one nfl fan is hoping to file a class action lawsuit for fan duel for using his name and likeness without consent. still a wide receiver larry fitzgerald joins us to talk about daily fantasy and the rest of the nfl season. that's coming up in just a moment. r and i'm here to tell homeowners that are sixty-two and older about a great way to live a better retirement... it's called a reverse mortgage.
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>> bit coin has seen a surge. buyers and sellers are using the currency to hedge themselves against turmoil in china while this market obviously is prone to volatility. coin base co-founder joined squawk on the street earlier and said the dollar amounts have been high, but percentage swings have actually been decreasing. it's gotten a lot of attention as it tries to make its way back to anywhere near the levels it had two, three years ago. >> when you look at the chart over the last five years, it's
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up more than 200,000%. it's a proposition for people in countries like china, argentina where it's become a very popular hedge against currencies. >> for an ordinary guy like me, it's still scary. i met with a coin base ceo back in december. he sent me a dollar in bit coin, and i looked yesterday, and it was worth $1.60. like, wow? then today it's worth $1.35. wow. >> that's quite a lot of volatility based on who knows what? people can't say what's cause this fluctuation. if i were an investor in bit coin with more than $1 of skin in the game, i would have a stomach ulcer right now. snoo maybe that's driving pc sales. >> when we come back, a top nfl receiver taking on fan duel and hoping to start a class action
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lawsuit. would star receiver larry fitzgerald sign on to that? we'll ask him in just a moment. you pay your car insurance
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you know the cardinal advisory a bye this week. it means he is with us this morning from phoenix. larry, good morning. fwood to have you with us. >> thank you. glad to be with you, carl. >> you had new ad with visa running. everyone wants to know how you shoot it, catching the passes from brees ask kaepernick and luck. what drew to you visa as an endorsement? >> well, that commercial that was last year. you know, this year we're running a little different one. we're all piled up in the huddle after the ball had been hum fumbled. we're all fighting for it discussing our shopping habits. >> do you all have to be in the same place at the same time? >> yes. it was a big pile-up. you know, actually kurt warner even made an appearance. >> so much going in the world of sports. we're reading the story about pierre garcon filing this class action lawsuit against fan dual. his argument is that they've
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appropriated his name, his likeness and his image without his consent. does he have a point? >> well, i don't know exactly where he is coming from with it. i haven't done much research on it, to be honest with you. i'm just interested in the season. i'm trying to make a playoff push, and that's where my focus is to be honest with you. >> has fan dual, do you think -- has it been a plus career-wise for you and other star receivers, for instance? >> can you repeat that? >> daily fantasy, draft kings, fan dual, and the like? >> faf r fantasy football has been good. it brings awareness to people that haven't watched the sport. women play a lot more, office pools. it's been good in terms of notoriety of our game. we brought a lot of casual fans to support the gamt. zi wonder what you think about streaming nfl games on-line. it's hard to compare it to the tv experience, but do you think that's going to be good for the game longer-term?
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do you think it's somehow better for people to gather around the tv set a larger screen and watch the game the traditional way, or does it matter to you at all? >> i think already as it is, i see people in airports and things of that nature already watching the games on some of the mobile devices, and i think that's kind of the wave of the future. if you can't watch it at home, that's the next best you can do. i think it will only get more popular. >> wear talking about the league having four teams 7-0. has never happened before. they got to two teams back in 2009, but people wonder if parody is actually working over time, or if the league sort of has become top heavy in a way. what do you think? >> i don't think the league has become top heavy. it's still very early in the season. we have some good football teams, and you look at the middle. there's the middle that's really bunched up. a lot of teams are sitting around 500 or a little under 500. you are always going to have a
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few anomalies, but i think everything will work its way out. >> what strikes a lot of us is a few months ago all we were talking about was officiating, about the inflation of balls, about disciplinary action within the league. now we talk about how high the ratings can go. the staying power of the game is amaze, isn't it? >> well, fans love it. the players are getting better, faster, and stronger. it's real life reality tv before, you know, everybody else was doing it. it gives you, you know -- you never know what's going to happen. the players are so different. the coaches. you know, there are so many different themes. it makes it so interesting to follow. >> we wish we could jump and fast and catch as well as you. thanks again. >> thank you. >> larry fitzgerald of the
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arizona cardinals. really quickly, check on disney. big question of the week is whether or not the tone has been set for media my discovery and their ad sales or by time warner's guidance last night. >> the big companies with the big franchises have been doing well this earnings anne season. we'll see if that continues. >> let's get to the judge back at hq and the half. ♪ >> all right, guys. thanks so much. welcome to the halftime show. let's meet our starting lineup for today. swref swrim levinthaal is here. our game plan looks like this. a whole lot of problems. whole foods shares plunge on earnings. now our experts decide if the stock has gone rotten. one time hock where i brawler is with us today on his new book "life's lessons" and now he is mix it up in the business world. right now we take a look at the markets. lower. reversing some earlier gains. you see the dow, the s&p, and the nasdaq all with fractional es

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